U.S. Treasury to auction off $48 billion of the 3 year notes at the top of the hour

The U.S. Treasury will auction off $48 billion a 3 or notes at the top of the hour. The WI is currently trading near 4.70%.

• High Yield: Previous rate was 4.74%, with a six-auction average of 4.372%.
• Tail: Previous 1.7 basis points (bps), with a six-auction average of -0.3 bps.
• Bid-to-Cover: Previous 2.56X, with a six-auction average of 2.79X.
• Directs (a measure of domestic demand): Previous 21.9%, with a six-auction average of 19.2%.
• Indirects (a measure of international demand): Previous 56.0%, with a six-auction average of 65.3%.
• Dealers (they take the rest): Previous 22.1%, with a six-auction average of 15.5%.

Tomorrow, the US treasury will auction off 10 year bonds, and on Thursday they will auction off 30 year bonds.